State Tax Commissioner Brian Kroshus, Members of the 69th Legislative Assembly, and the governor itself celebrated today after North Dakota Governor Burgum signed a major tax relief package offering $515 million in savings for state income tax and local property taxpayers for 2024 and 2025.
North Dakota Governor Signs into Law a Major tax relief package
North Dakota Governor signed a bill allowing workers with tax to keep more of their hard-earned salary and simplify the property tax problem. North Dakota Governor signed the bill that permits h homeowners for our senior citizens to remain affordable.
The five current tax brackets became three. North Dakota Governor said if someone belongs to a family of four, two are working with an income of $150,000 and a $200,000 house. The tax savings for that family is approximately $900.
North Dakota Governor added that this bill he had signed directed the state to decrease income tax rates even more. As well includes more than $100 million in property tax credits and more than $50 million to expand the Homestead Tax Credit.
North Dakota will now have the lowest income tax
Courage and perseverance on the legislature’s part to make this bill into law. A proposed bill that was linked to tax relief deserves recognition. Sen. Jordan Kannianen stated.
North Dakota will now have the lowest revenue tax in the nation among states. The tax relief will retain workers and recruit for workforce shortage.
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